Student Loans
Process for Applying for Student Loans (Federal Direct Loans)
Students interested in applying for a student loan must first complete a Free Application for Federal Student Aid (FAFSA). This application is available via the internet at www.fafsa.ed.gov or a paper copy is available through the Financial Aid Office at NPCC or through your high school counselor.
After the Student's Financial Aid package is complete, the student's eligibility for a student loan can be determined.
Once the loan eligibility has been determined, the student must:
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Complete Loan Entrance Counseling via the internet at http://studentloans.gov/. Electronic confirmation will be sent to the college.
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Complete Master Promissory Note via the internet at http://studentloans.gov. Electronic confirmation will be sent to the college.
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Complete a 1 hour Loan Seminar. To schedule an appointment for the Loan Seminar, call the Financial Aid office at 760-4159. This seminar provides information about accepting and servicing student loans. You may review the powerpoint presentation from the seminar.
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Complete the Direct Loan Worksheet. You will be provided with a copy of the Direct Loan Worksheet at the Loan Seminar, but if you lose yours you can pick up an extra in Financial Aid.
All student loans have to be in two disbursements each semester. Each disbursement will have the Origination Fee and the Guarantee Fee deducted automatically unless the fee(s) are paid by the lender. The funds will be electronically forwarded the funds to the College by the disbursement dates.
Students who receive a student loan must maintain satisfactory academic progress to continue to be eligible to receive the loan funds.
Consumer Information
Loan Counseling
http://www.loyno.edu/financialaid/online-loan-counseling
http://www.loyno.edu/financialaid/plan-repayment
Financial Literacy Resources
http://www.loyno.edu/financialaid/money-management-tools
https://www.financialavenue.org
